IBM (IBM) 88.08 +2.16 (+2.5%)
Dow component delivers a 15% increase in Q3 (Sept) EPS, to $1.17 (consensus of $1.14), and a 9% rise in revenues, to $23.43 bln (consensus of $23.36 bln); Gross margins exceeded consensus estimate of 36.3% and service bookings matched expectations; On its call, management said it was on track to surpass beginning of the year FY04 (Dec) EPS goals by $0.07 - citing analyst revisions and recent upside; IBM also reaffirmed its confidence in growing its services business in the mid-single digits next year
Texas Instruments (TXN) 22.21 +1.12 (+5.3%)
Chip maker beats both its own guidance and the consensus analyst estimates in its Q3 (Sept) report; Its expectations for Q4 (Dec) are not nearly upbeat - predicts EPS of $0.24-0.28 and sales of $2.96-3.20 bln as compared to the Reuters Estimates consensus of $0.26 and $3.22 bln, respectively; This outlook appears to be priced in, though, as shares have declined 30% year-to-date; The investment community was also expecting the worse with Merrill Lynch's Joe Osha reiterating his 'Sell' rating on TXN ahead of the report
JDA Software (JDAS) 11.20 +0.15 (+1.4%)
After cutting its outlook for Q3 (Sept) on Oct 7, integrated software maker tops the downwardly revised Reuters Estimates EPS consensus by a penny on revenues that fell 13% to $50.3 mln; The company described its software sales as 'disappointing,' but this is hardly news to the market in light of the recent warning; Stock has dropped 33% year-to-date and thus traders have used the weakness as a bargain-hunting opportunity
j2 Global (JCOM) 29.90 -1.25 (-4.0%)
After guiding Q3 (Sept) higher on July 19, small-cap communications services provider still shows upside to the (higher) Street top and bottom-line estimates; Management's EPS and revenues targets for FY04 (Dec), though, are basically in line - suggesting a potential shortfall to Q4 (Dec) as Q3 was stronger than expected; Company did give in line guidance for Q4 though; Traders still sell as JCOM has rallied 56% since early March; j2 noted on its call that its cancellation rate crept higher to 2.6% from 2.4% in 2Q04
Leap Frog (LF) 11.33 -6.87 (-37.8%)
Maker of educational games cuts its quarterly forecasts for the second time in eight months; Now sees Q3 (Sept) EPS of $0.32-0.34 (consensus of $0.61) and FY04 (Dec) EPS of $0.40-0.60 (consensus of $1.19) due to soft US sales and problems associated with its new distribution center; Traders have effectively thrown in the towel on this stock tonight, bothered by its admission of company-specific problems (in addition to the usual 'difficult sales environment'); LF has plunged nearly $4 below its 52-week low
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